Adnani is CEO of Uranium Energy Corp and Chairman of GoldMining Inc. He spoke with David Lin, anchor and producer at Kitco News, at the Vancouver Resource Investment Conference. Adnani remarked that the Russia-Ukraine conflict would impact uranium markets. Russia is one of the world’s top uranium producers.
His comments come as the Uranium market saw some of the most volatile price movements in recent history, rising from $30 a pound last September to $50 in a span of two weeks, then hitting close to $65 a pound by April before falling back down to $47.8.
“[We’re] completely dependent on Russian uranium and enriched uranium for the fuel to generate emission-free electricity, which is nuclear power,” said Adnani. “… The U.S. is producing zero uranium domestically, no uranium mines are operating.
And the biggest source of enriched uranium coming into the U.S. is from Russia… Uranium supplies from Russia are still entering the U.S. right now. There is a proposed bill, in the U.S. Senate and the House… that’s proposing to ban the imports of Russian uranium and utilities coming into the U.S.”
For the rest of this article and video: https://www.kitco.com/news/2022-05-23/Uranium-s-price-is-too-low-at-75-here-s-where-the-price-needs-to-go-to-incentivize-mining-Amir-Adnani.html